VC asked to partner with me for my company. My only hesitation is that my vision will get clouded and the product may fail as a result. Have there been successful companies that have thrived with having a VC come on board as a partner?
What are the precedents?
If they gave you funding would they not cloud your vision anyway ?
Are they bringing more than just money to the table? Filling a skill gap? If not, they have already served their purpose.
It is relatively common for VC executives to join portfolio companies. There is often a revolving door for serial entrepreneurs to VC firms and vice versa.
Here's an article on the topic:
http://www.forbes.com/sites/drewhansen/2012/12/26/how-vcs-deploy-operating-talent-to-build-better-startups/2/
Sure, lots of them. VCs provide money that can allow a start-up to succeed - provided of course it has a good product and founders who can execute.
VCs are about capital, they're not your friends or partners. Their sole focus is achieving a high multiple return from their investment.
The success of the business is entirely your responsibility. If a VC offers advice that works - great. If their advice proves wrong - too bad. It's still your responsibility.
Can you accomplish ANY vision-- yours or theirs -- without financing? I ask myself this question every day.
Your vision isn't theirs. Their investment begins their influence. Your intuition is telling you that they don't agree with your vision. That's obviously not sitting well with you.
Are you interested in crafting a common vision with your prospective investors, prior to partnering?
Before any of the issues above, the very first questions you should be asking yourself are:
1) What are this VCs credentials beyond bringing in money? Past performance is not an indicator of future performance, but past behavior is.
2) What other commits does this VC have? Other board positions, existing VC obligations, even significant equity stakes in other companies? Or, Deity forfend, in competitors?
3) How much equity are you giving up? 30% or more for say, $500K or less means you're pretty much stuck with this person forever. You'll have a hard time getting anyone else to buy in unless you really blow up.
Are you founder quality ?
Yes.